Live
- Pakistan Protests: PTI Supporters March Towards Islamabad, Demanding Imran Khan's Release
- Additional Collector Conducts Surprise Visit to Boys' Hostel in Wanaparthy
- Punjab hikes maximum state-agreed price for sugarcane, highest in country
- Centre okays PAN 2.0 project worth Rs 1,435 crore to transform taxpayer registration
- Punjab minister opens development projects of Rs 120 crore in Ludhiana
- Cabinet approves Atal Innovation Mission 2.0 with Rs 2,750 crore outlay
- Centre okays Rs 3,689cr investment for 2 hydro electric projects in Arunachal
- IPL 2025 Auction: 13-year-old Vaibhav Suryavanshi becomes youngest player to be signed in tournament's history
- About 62 lakh foreign tourists arrived in India in 8 months this year: Govt
- IPL 2025 Auction: Gujarat bag Sherfane Rutherford for Rs 2.60 cr; Kolkata grab Manish Pandey for Rs 75 lakh
PNB, Carlyle Group to sell at least 51 pc stake in PNB Housing Finance
Punjab National Bank PNB and Carlyle Group plan to initiate the process to sell at least 51 per cent stake in the mortgage lender PNB Housing Finance, the staterun bank today said
Company had registered a rise of 58 per cent in its net profit at Rs 829.41 crore in fiscal ended March 2018.
New Delhi: Punjab National Bank (PNB) and Carlyle Group plan to initiate the process to sell at least 51 per cent stake in the mortgage lender PNB Housing Finance, the state-run bank today said.
PNB owns 32.79 per cent stake and Carlyle Group, through its investment vehicle Quality Investment Holdings Quality Investment Holdings, owns 32.36 per cent of the paid up equity share capital of PNB Housing Finance.
"Punjab National Bank and Carlyle Group intend to jointly initiate a strategic stake sale process to offer minimum 51 per cent stake in PNB Housing Finance," PNB said in a regulatory filing.
In May this year, Quality Investment Holdings sold 4.8 per cent stake in PNB Housing Finance for Rs 1,024 crore through an open market transaction.
PNB Housing Finance, a subsidiary of PNB, claims to be the fifth largest housing finance company with the asset under management of Rs 62,252 crore as on March 31, 2018.
The company had registered a rise of 58 per cent in its net profit at Rs 829.41 crore in fiscal ended March 2018. Total income during the year stood at Rs 5,516.96 crore.
PNB Housing had disbursed Rs 33,195 crore loans during 2017-18, an increase of 61 per cent over the preceding fiscal year. Its asset under management stood at Rs 62,252 crore as on March 31, 2018.
